President Obama and Republican House Speaker John Boehner are allegedly close to a $3 trillion deficit-reduction package as part of a deal to raise the federal debt ceiling before an Aug. 2 deadline. But the deal is coming under fire from both congressional Democrats and Republicans. Part of it calls for lowering personal and corporate income tax rates, while eliminating or reducing an array of popular tax breaks, such as the deduction for home mortgage interest. Some Democratic lawmakers expressed outrage on Thursday because the Obama-Boehner agreement appears to violate their pledge not to cut Social Security and Medicare benefits, as well as Obama’s promise not to make deep cuts in programs for the poor without extracting some tax concessions from the rich. We’re joined by economist Michael Hudson, president of the Institute for the Study of Long-Term Economic Trends, a Distinguished Research Professor of Economics at the University of Missouri, Kansas City, and author of "Super Imperialism: The Economic Strategy of American Empire."

A quote from the transcript made me wonder...

Quote:

What they’re pushing for really isn’t a default on the debt. They’re pushing for a crisis to let Mr. Obama rush through the Republican plan. Now, in order for him to do it, the Republicans have to play good cop, bad cop. They have to have the Tea Party move so far to the right, take a so crazy a position, that Mr. Obama seems reasonable by comparison. And, of course, he is not reasonable. He’s a Wall Street Democrat, which we used to call Republicans.

I am SO upset with Obama...I watched Lawrence O'Donnell last night as he reported the "breaking news" that the Tan Man had walked out of the debt talks, meaning of course the Crying Speaker. Obama admitted to having been "willing to take heat from my own party" on what he was conceding....and that is not acceptable. Obama has kept so few of his campaign promises, been such a wimp on so many of the important issues, and his statement about "taking heat" sounds so apathetic...was his goal simply to be the first black president and that's enough for him? He's not stood firm on any of this...and it seems to me that the Republicans have called all the shots since he took office. I'm afraid I've been led up the garden path by two supposed Democrats...Barack Obama and Heath Shuler.

Is Obama a Republican? I'm afraid he is more a Republican than he is a Democrat. I KNOW one thing...when it comes to dealing with the Republicans in Congress, he's spineless. He's throwing all of us under the bus. You'd think that the man who could order the killing of the world's most wanted terrorist could stand up to the Tea Party Repubs...but no...not this man...maybe it's because he has to do the fighting himself and not just ORDER it done.

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"Behind every great fortune lies a great crime."Honore de Balzac

"Democrats work to help people who need help. That other party, they work for people who don't need help. That's all there is to it."~Harry S. Truman

Joined: Thu Dec 22, 2005 7:53 pmPosts: 690Location: Between East and West

It doesn't take any guessing what the "Dude" Obama is doing... he's destroying the Democrat party and lost 60% of his followers... I would be considered one of those sixty percenters....his health care program was a fasico....he should have taken/used Hillary Clinton plan. The only thing he had done, is give some okay to get bin laden. I could have given that without any experience. So, his report card has all "F's", and he knows it. He will be known as the second worth President. And we know who the worth was. Yes!.. back to back Presidents.

Obama just talks the talk, and doesn't walk the walk.

If, and should he gets his way with cutting the entitlements, he might as well resign, because we know what his re-election vote tabulation will be. To save face...just tell the people , "I will not run nor except the office of the President of the United States."

_________________If you think you are beaten, your are. If you think you dare not, you won't. If you like to win, but you think you can't, it is most certain you won't.